Granite Investment Advisors LLC raised its holdings in shares of Home Depot Inc (NYSE:HD) by 5.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,352 shares of the home improvement retailer’s stock after buying an additional 684 shares during the period. Granite Investment Advisors LLC’s holdings in Home Depot were worth $3,986,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in Home Depot by 6.7% during the second quarter. Vanguard Group Inc. now owns 91,547,627 shares of the home improvement retailer’s stock valued at $22,933,597,000 after buying an additional 5,714,595 shares in the last quarter. FMR LLC lifted its position in shares of Home Depot by 2.4% during the second quarter. FMR LLC now owns 19,084,248 shares of the home improvement retailer’s stock worth $4,780,796,000 after purchasing an additional 441,321 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Home Depot by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 10,095,006 shares of the home improvement retailer’s stock worth $2,528,899,000 after purchasing an additional 43,968 shares in the last quarter. Morgan Stanley lifted its position in shares of Home Depot by 2.4% during the first quarter. Morgan Stanley now owns 9,255,927 shares of the home improvement retailer’s stock worth $1,728,173,000 after purchasing an additional 216,078 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Home Depot by 3.1% during the first quarter. Clearbridge Investments LLC now owns 7,109,073 shares of the home improvement retailer’s stock worth $1,327,335,000 after purchasing an additional 214,155 shares in the last quarter. 69.00% of the stock is currently owned by hedge funds and other institutional investors.
NYSE HD traded up $0.12 on Friday, reaching $287.66. The company’s stock had a trading volume of 3,109,401 shares, compared to its average volume of 4,963,838. Home Depot Inc has a twelve month low of $140.63 and a twelve month high of $292.95. The stock has a market cap of $309.65 billion, a PE ratio of 26.37, a PEG ratio of 2.38 and a beta of 1.09. The firm’s 50 day moving average is $278.34 and its two-hundred day moving average is $251.27.
Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.20 by $0.82. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The company had revenue of $38.05 billion during the quarter, compared to the consensus estimate of $32.13 billion. During the same period in the prior year, the company earned $3.17 EPS. Home Depot’s revenue was up 23.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Home Depot Inc will post 11.36 EPS for the current fiscal year.
A number of research analysts have recently commented on HD shares. Nomura boosted their target price on shares of Home Depot from $252.00 to $266.00 and gave the stock a “buy” rating in a research report on Tuesday, June 23rd. BofA Securities raised shares of Home Depot from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $290.00 to $330.00 in a research report on Wednesday, August 19th. Gordon Haskett raised shares of Home Depot from a “hold” rating to an “accumulate” rating and set a $306.00 target price on the stock in a research report on Wednesday, August 12th. Wells Fargo & Company boosted their target price on shares of Home Depot from $295.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. They noted that the move was a valuation call. Finally, Bank of America upgraded shares of Home Depot from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $290.00 to $330.00 in a research note on Wednesday, August 19th. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $288.79.
In other Home Depot news, EVP Matt Carey sold 50,478 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $276.43, for a total transaction of $13,953,633.54. Following the sale, the executive vice president now owns 62,735 shares in the company, valued at approximately $17,341,836.05. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP William G. Lennie sold 13,199 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $283.22, for a total value of $3,738,220.78. Following the sale, the executive vice president now owns 49,736 shares in the company, valued at approximately $14,086,229.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,304 shares of company stock worth $32,088,591. Corporate insiders own 0.26% of the company’s stock.
About Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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